Page 31 - Simon Lambert News Today

Hard-pressed homeowners can use MailOnlines mortgage calculator to see how much their monthly repayments will soar by if interest rates rise to seven per cent.

Nationwide became the flender to hike its fixed-rate deals yesterday, with the banks two-year rate rising to 5.59 per cent - more than double the 2.54 per cent it was offering three months ago.

Mortgage panic is deepening as families fear that they will default on soaring repayments and lose their home  amid warnings of 15 per cent fall in house prices as lenders pull 1,000 deals in a day.

Terrified homeowners have already begun putting their properties back on the market following seven interest rate rises this year, amid fears it could climb to 6 per cent in the first half of 2023.

The mortgage market has been thrown into disarray by the fallout from the radical mini-Budget and the falling pound, we explain what borrowers can do.

The three banking giants, along with Lloyds, which today also paused some of its products, account for around half of the mortgage market in Britain.

We look at why sterling has fallen and its impact on households, businesses and the markets..

Raising the threshold to £250,000 means that a third of all homes currently for sale are now completely exempt from stamp duty in England, up from 7 per cent when the threshold was £125,000

We discuss what the going for growth mini-Budget means for people, how much they may save in tax, and whether it will work.

We discuss what the going for growth mini-Budget means for people, how much they may save in tax, and whether it will work.